Project Details
Project
Stora Enso Green Bond Second-Party Opinion
Client
Stora Enso
Project Type
Green Bond/Loan
Industry Group
-
Use of Proceeds
-
Location
Finland
Evaluation Date
Feb 2018
Evaluation Summary
Sustainalytics is of the opinion that the Stora Enso’s Green Bond Framework is robust, credible and impactful, and aligns with the four pillars of the Green Bond Principles 20171. Some of its key strengths are that:
USE OF PROCEEDS
The eligible categories for the use of proceeds – (i) sustainable forest management, (ii) renewable, low-carbon and eco-efficient products, product technologies and processes, (iii) energy efficiency, (iv) renewable energy and waste to energy, (v) sustainable water management, and (vi) waste management and pollution control – are aligned with those recognized as impactful by the Green Bond Principles. Sustainalytics considers these categories as creating environmentally sustainable benefits.
PROJECT EVALUATION/SELECTION
Stora Enso’s project evaluation and selection process is aligned with market best practice, including the Sustainability Council, chaired by the Executive Vice President of Sustainability, which is responsible for project selection and evaluation.
MANAGEMENT OF PROCEEDS
Stora Enso’s internal process for managing the proceeds is in line with market practice, including a separate register for the proceeds.
REPORTING
Stora Enso intends to report allocation proceeds on an annual basis. In addition, Stora Enso committed to report impact indicators for the eligible categories on an annual basis, such as CO2 avoided and percentage of land certified by FSC and PEFC.